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Rent Stabilization Board
Rent Stabilization Board

1253. Provision for Disposition of Funds Held in Escrow -- Appeal Decisions

In the Decision on Appeal, the Appeals Panel shall order disbursement of any funds held in escrow to the appropriate party. Actual disbursement shall not take place until the seven (7) day period for requesting reconsideration pursuant to Regulation 1244 has expired. If a timely request for reconsideration is filed, it may be accompanied by a written application concerning the maintenance or creation of an escrow account as in the case of an appeal. In the event of such an application, no distribution of funds held in escrow shall be made until the Appeals Panel acts on said application. However, if the request for reconsideration is deemed denied by virtue of Regulation 1244, distribution shall be made in accordance with Decision on Appeal upon the expiration of the thirty-day period set forth in said regulation.

[Effective 6/20/86]

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